Exhibit 6-9
The average price of personal computers manufactured by MNM Company is $1,200 with a standard deviation of $220. Furthermore, it is known that the computer prices manufactured by MNM are normally distributed.
-Refer to Exhibit 6-9. What is the probability that a randomly selected computer will have a price of at least $1,530?
A)0.0668
B)0.5668
C)0.4332
D)1.4332

Question

Quizplus · Accepted Answer

To find the probability that a randomly selected computer will have a price of at least $1,530, we first calculate the z-score: z = (1530 - 1200) / 220 = 1.5. Using the standard normal distribution table, the probability of a z-score being less than 1.5 is approximately 0.9332. Therefore, the probability of a z-score being at least 1.5 is 1 - 0.9332 = 0.0668.

Exhibit 6-9 The Average Price of Personal Computers Manufactured by MNM Company